Under the terms of the agreement, DCT shareholders will receive 1.02 Prologis shares for each DCT share they own. The transaction is valued at $8.4 billion (including the assumption of debt).

The transaction is expected to close in the third quarter of 2018, subject to the approval of DCT shareholders and other customary closing conditions.

DCT is a leading logistics real estate company specializing in the ownership, development, acquisition, leasing and management of bulk-distribution and light-industrial properties in high-demand distribution markets in the United States. Prologis is the global leader in logistics real estate with a focus on high-barrier, high-growth markets.